Ashwani Gujral: High of the Bank Nifty today was 18700. We have closed at 18514. It is actually down 186 points from the highs.The ball is now going to be controlled by the Bank Nifty. In case it continues to remain weak,the Nifty cannot get past this 8280 zone. Then the entire rally starts unwinding. That is possible because the Bank Nifty should have led this market on the upside. Whenever a group or a sector leads a market, it is that sector which makes new highs first. Right now, from what we can see, Bank Nifty is unable to cross even the first resistance on the upside. That is the reason there is some sort of edginess even on the Nifty. So let us see for a couple of days. It closed at the lows of the day for the day but we need one strong impulse move on the downside to confirm. In case we start trading above 18600-18650 then what we are seeing would not work out. Overall it seems that to support resistance and we should go down before we are able to go up.

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